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“Teen Spirit,” the story of a small town teenager who dreams of pop stardom, has sold to Mickey Liddell.

The film is the directorial debut of actor Max Minghella and stars Elle Fanning. Sources say “Teen Spirit” sold for $3 million. It premiered at the Toronto International Film Festival, where it was considered to be one of the hotter acquisition targets.

Liddell is the CEO and founder of LD Entertainment. He’s backed Alejandro Gonzalez Inarritu’s “Biutiful” and Pablo Larrain’s “Jackie,” and was an investor in the Broadway smash “Dear Evan Hansen.” The size of the deal, a big one for a first time director, originally led to a lot of speculation around Toronto that it would sell to a deep-pocketed streaming service. Liddell is expected to partner with a distributor to release the film.

“Teen Spirit” centers on a 17-year old named Violet (Fanning), who lives with her mother (Agnieszka Grochowska) on a small farm on the Isle of Wight. An introvert, she’s also a gifted singer, who begins to believe a chance at the big time might be possible. The film enjoyed solid reviews, with many critics singling out Fanning’s performance as a highlight.

CAA brokered a deal on behalf of the filmmakers. The Hollywood Reporter first reported the sale.

Variety Portrait Studio at TIFF